Commissioner Hester Peirce — also known as the Securities and Exchange Commission’s (SECs) “crypto mom” — has backed a regulatory framework for stablecoins that allows “room for there to be failure.”
Speaking at an online panel on May 12 hosted by financial think-tank the Official Monetary and Financial Institutions Forum (OMFIF) Peirce, who has long been an advocate for crypto, was asked to shed light on the actions being taken by U.S. regulatory bodies in regard to cryptocurrency.
“One place we might see some movement is around stablecoins,” Peirce answered, “that’s an area that has gotten a lot of attention this week.”
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“It’s been one area within crypto that’s really had quite a moment and there’s a lot of stablecoin use and therefore people are thinking down the